EUR/USD: Euro needs strong catalysts to continue recovery

The pair EUR/USD has subsided slightly on Thursday morning after the growth last night.

By 9.00 MSK the Euro is at 1.3717 against yesterday’s closing level of 1.3754.

So, yesterday teleconference of representatives of France, Germany and Greece took place and outcome of the meeting was predictable: European countries once again expressed readiness to support Athens in its fight against impending default and also stated that Greece will retain its membership in Eurozone despite current complicated situation.

New proposals have not been made and markets calmed down briefly; later, however, previous trend of trades resumed in advance of IMF decision on Greece and the U.S. FR meeting next week.

The U.S. news, which is scheduled for the release tonight, is worth noting.

Most likely the pair EUR/USD will not go out of the range of 1.3670-1.3750 at the trading session on Thursday.